New Issue: Allegheny County, Pa., prices $50 million TANs at 0.4% TIC

By Sheri Kasprzak

New York, Dec. 21 - Allegheny County in Pennsylvania priced $50 million of series 2011 tax anticipation notes Tuesday, according to a pricing sheet.

The notes (MIG 1) were sold competitively with Boenning & Scattergood Inc. as the winning bidder. The true interest cost came in at 0.4%.

The 1% notes due April 5, 2011 were not formally reoffered.

Proceeds will be used to fund current operating expenses ahead of the collection of taxes.

Issuer:	Allegheny County, Pa.
Issue:	Series 2011 tax anticipation notes
Amount:	$50 million
Maturity:	April 5, 2011
Coupon:	1%
Price:	NRO
Type:	Competitive
Underwriter:	Boenning & Scattergood Inc. (winner)
True interest cost:	0.4%
Rating:	Moody's: MIG 1
Pricing date:	Dec. 21
Settlement date:	Jan. 4, 2011

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